The digital marketing software market is expected to grow from $37.4 billion this year to $74.9 billion by 2022, according to a research conducted by MarketsandMarkets.
Empowered by personalized marketing material appealing to an individual customer, the research named North America as the largest market in the global DMS Market. USA and Canada lead the way in DMS market share due to high budget availability.
With an increasing adoption of DMS (Digital Marketing Software) in consumer goods and retail, media and entertainment, manufacturing and other industry verticals in developed economies such as US and Canada, the DMS market is set to grow at a rapid pace in the region. The increasing market share of this segment is predominantly due to the high budget availability to spend on new technologies. One of the major factors driving the growth of the DMS market in North America is personalized marketing material appealing to an individual customer, the research states.
With the increasing usage of internet, a large number of customers are active on social media platforms, such as LinkedIn, Facebook, Twitter, Instagram, and YouTube. Hence, these platforms help SMEs and large enterprises to interact with existing and potential customers in real time. Social media advertising facilitates enterprises to establish customer engagements and enhance their brand presence among the customers. With the growing interest of customers in social media, enterprises prefer to advertise their products on social media to enhance the advertisement performance tracking, which results in an increased return on investment.
The media and entertainment vertical is also a major contributor to the DMS market growth. Media companies invest in DMS for integrating the data and analytics from multiple sources. The growth of this vertical is due to the demand for video, mobile, and social channels which increase the web traffic and ensure the best return on advertising investment delivery across paid search and display channels.